Statutes > Tennessee Statutes > Title 45 - Banks And Financial Institutions > Chapter 2 - Banking Institutions > Part 5 - Membership in Federal Reserve Banks > 45-2-504 - Reserves of Federal Reserve Act sufficient.

45-2-504 - Reserves of Federal Reserve Act sufficient.

45-2-504. Reserves of Federal Reserve Act sufficient.

A compliance on the part of a bank with the reserve requirements of the Federal Reserve Act shall be held to be a full compliance with those  laws of this state that require banks to maintain reserves, and the bank shall not be required to carry or maintain reserves other than those required under the terms of the Federal Reserve Act.

[Acts 1969, ch. 36, § 1 (3.323); T.C.A., § 45-304.]